Skydance Corporation (formerly Paramount Skydance Corporation) announced the completion of its merger with Warner Bros. Discovery, Inc. (WBD) on October 6, 2026, with WBD surviving as a wholly owned subsidiary. The acquisition was funded through significant financing, including substantial debt issuance and a private investment in public equity (PIPE). In connection with the closing, the company changed its name to Skydance Corporation, and its Class B Common Stock now trades on the New York Stock Exchange under the ticker symbol 'SKYD'.
Key Details
- Acquisition Terms: WBD shareholders received $31.00 in cash per share, plus a 'Ticking Consideration' which amounted to an aggregate of approximately $41.9 million.
- Merger Financing: The transaction was financed through the issuance of approximately $52.8 billion in senior secured notes, new term loans totaling $8.5 billion and €850 million, and a PIPE transaction of approximately 3.92 billion shares at $12.00 per share.
- Corporate & Stock Updates: Effective October 6, 2026, the company's name changed from 'Paramount Skydance Corporation', its stock ticker changed from 'PSKY' to 'SKYD', and its listing transferred from Nasdaq to the NYSE.
- Management Appointment: The board of directors appointed Andrew Brandon-Gordon as the company's President, effective upon closing. He previously served as Chief Strategy Officer and Chief Operating Officer.